(Alliance News) - Powersoft Spa reported Thursday that it ended 2023 with net income nearly doubling year-on-year to EUR12.1 million from EUR6.3 million in 2022.

Revenues rose 44 percent to EUR70.3 million from EUR48.8 million. The group's revenue growth was particularly concentrated in the European and Asian markets, where it shows an increase of 72 percent for each compared to fiscal year 2022, resulting from all business lines.

Ebitda increased by 60 percent to EUR19.7 million from EUR12.4 million, with marigne up to 28.5 percent from 25.6 percent, while operating income increased to EUR16.6 million from EUR9.9 million, with revenue margin of 24.0 percent from 20.5 percent in the previous year.

Net financial position as of Dec. 31, 2023 was positive at EUR17.8 million compared to EUR15.0 million as of June 30, 2023 and EUR24.3 million as of Dec. 31, 2022, after the disbursement of a total of about EUR9.7 million in 2023 as ordinary and extraordinary dividends.

Powersoft's board has proposed to shareholders the distribution of a dividend of EUR0.85 per share, up from EUR0.48 paid last year.

Powersoft's stock is down 1.2 percent at EUR16.80 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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